Civic Intelligence

Flagship Enterprise Capital Inc

EIN 81-3693405 • 501(c)3 • Anderson, IN

Profile

To be a mission driven financial institution that helps provide financial services to meet the needs of economically disadvantaged businesses and individuals in underserved communities.

2705 Enterprise DriveAnderson, IN 46013

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

60th percentile

0.13x

Higher debt load relative to assets than 60% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

77th percentile

0.36x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

89th percentile

50%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

42nd percentile

$9,382

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

33rd percentile

-1.8%

Faster revenue growth than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$2,146,263

Up $215,173 (+11%) from 2024

Liabilities

Down

$274,433

Down $222,441 (-45%) from 2024

Net Assets

Up

$1,871,830

Up $437,614 (+31%) from 2024

Revenue

Down

$752,907

Down $14,167 (-1.8%) from 2024

Expenses

Down

$379,156

Down $96,747 (-20%) from 2024

Net Income

Up

$373,751

Up $82,580 (+28%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2019: $539,461Liabilities 2019: $379,033Net Assets 2019: $160,4282019Assets 2020: $735,678Liabilities 2020: $375,015Net Assets 2020: $360,6632020Assets 2021: $1,325,147Liabilities 2021: $710,719Net Assets 2021: $614,4282021Assets 2022: $1,621,789Liabilities 2022: $556,834Net Assets 2022: $1,064,9552022Assets 2023: $1,640,945Liabilities 2023: $488,972Net Assets 2023: $1,151,9732023Assets 2024: $1,931,090Liabilities 2024: $496,874Net Assets 2024: $1,434,2162024Assets 2025: $2,146,263Liabilities 2025: $274,433Net Assets 2025: $1,871,8302025

Highlighted filing

2025

Assets$2,146,263
Liabilities$274,433
Net Assets$1,871,830

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0Revenue 2019: $191,562Expenses 2019: $42,027Net Income 2019: $149,5352019Revenue 2020: $265,207Expenses 2020: $64,972Net Income 2020: $200,2352020Revenue 2021: $444,245Expenses 2021: $190,480Net Income 2021: $253,7652021Revenue 2022: $739,498Expenses 2022: $288,971Net Income 2022: $450,5272022Revenue 2023: $440,616Expenses 2023: $360,424Net Income 2023: $80,1922023Revenue 2024: $767,074Expenses 2024: $475,903Net Income 2024: $291,1712024Revenue 2025: $752,907Expenses 2025: $379,156Net Income 2025: $373,7512025

Highlighted filing

2025

Revenue$752,907
Expenses$379,156
Net Income$373,751

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to May 31, 2025
Signed
Feb 2, 2026
Return Version
2024v5.5
Gross Receipts
$752,907
Mission and Program Overview

Mission

To be a mission driven financial institution that helps provide financial services to meet the needs of economically disadvantaged businesses and individuals in underserved communities.

A mission driven financial institution that helps provide financial services to meet the needs of economically disadvantaged businesses and individuals in underserved communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,344,904$1,437,654▲ $92,750
Cash and Non-Interest-Bearing Accounts$367,335$507,470▲ $140,135
Prepaid Expenses and Deferred Charges$9,309$11,796▲ $2,487
Accounts Receivable$8,805$8,913▲ $108
Total Assets$1,931,090$2,146,263▲ $215,173
Other Assets Total$200,737$180,430▼ $20,307
Liabilities
Other Liabilities$235,631$187,592▼ $48,039
Mortgage Notes Payable Secured by Investment Property$232,657$76,896▼ $155,761
Accounts Payable and Accrued Expenses$28,586$9,945▼ $18,641
Total Liabilities$496,874$274,433▼ $222,441
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,434,216$1,807,966▲ $373,750
Net Assets With Donor Restrictions-$63,864-
Total Net Assets Fund Balance$1,434,216$1,871,830▲ $437,614
Total Liabilities and Net Assets / Fund Balance$1,931,090$2,146,263▲ $215,173

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$180,430--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jessie ReynoldsExecutive DirectorFT$9,382$9,382

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$611,136
Program Service Revenue
$9,364
Investment Income
$132,407
Other Revenue
$0
All Other Contributions
$611,136
Change in Net Assets
$373,751

Audited Revenue Reconciliation

Revenue per Audited Statements
$702,425
Revenue Not Reported on Financial Statements
$50,482
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$50,482
Total Revenue per Audited Statements
$702,425
Total Revenue per Form 990
$752,907
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$326,364
Salaries, Compensation, and Employee Benefits$52,792
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$51,889--$51,889
Fees for Services Management-$34,377-$34,377
Occupancy-$27,514-$27,514
Insurance-$11,472-$11,472
Fees for Services Accounting$9,002--$9,002
Interest$3,998--$3,998
Office Expenses$1,358$1,321-$2,679
Other Expenses$1,694--$1,694
Advertising$1,230--$1,230
Payroll Taxes$903--$903
All Other Expenses$136--$136
Total Functional Expenses$304,472$74,684$0$379,156

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$379,156
Expenses per Audited Statements$237,426
Total Expenses per Audited Statements$237,426
Expenses Not Reported on Financial Statements$141,730
Other Expense Adjustments$141,730
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$187,592
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The board chair has been authorized to review the form 990 and provide a report to the board.

Form 990, Part VI, Section B, Line 12C

The organization reviews the policy as new officers, directors, and key employees are added (or changed) and reviews existing members, not less than annually.

Form 990, Part VI, Section B, Line 15

The annual performance review is completed on the ceo by the executive committee.

Form 990, Part VI, Section C, Line 19

With adequate notice, the organization makes its governing documents, related policies, and financial statements available, upon request of the board chair.

Filing and Contact Details

Filer

Filer Name
Flagship Enterprise Capital Inc
EIN
81-3693405
Phone
7656220800
Address
2705 ENTERPRISE DRIVE, ANDERSON, IN 46013

Signing Officer

Name
Adam Hoeksema
Title
CEO
Phone
7656220400
Signed
2026-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Hoeksema
Formed
2016
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
0

Preparer

Firm
Whitinger & Company LLC
Address
10735 SKY PRAIRIE STREET SUITE 100, FISHERS, IN 46038
Preparer
John P Kane CPA
Phone
3178416009
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Restricted net assets 63,863.

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loan origination fees netted against income on financial statements not 990 50,482.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Related party expenses 91,248. Loan origination fees netted against income on financial statements not 990 50,482.

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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0611136
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0650000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0353000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0655851
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0390000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02659987
IRS990ScheduleA/TotalSupportAmt03144339
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0141730
IRS990ScheduleD/ExpensesSubtotalAmt0237426
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0180430
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING LEASE RIGHT-OF-USE ASSET
IRS990ScheduleD/OtherExpensesNotIncludedAmt0141730
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0187592
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITIES
IRS990ScheduleD/OtherRevenuesNotIncludedAmt050482
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt050482
IRS990ScheduleD/RevenueSubtotalAmt0702425
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOAN ORIGINATION FEES NETTED AGAINST INCOME ON FINANCIAL STATEMENTS NOT 990 50,482.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RELATED PARTY EXPENSES 91,248. LOAN ORIGINATION FEES NETTED AGAINST INCOME ON FINANCIAL STATEMENTS NOT 990 50,482.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0180430
IRS990ScheduleD/TotalExpensesPerForm990Amt0379156
IRS990ScheduleD/TotalLiabilityAmt0187592
IRS990ScheduleD/TotalRevenuePerForm990Amt0752907
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0702425
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0237426
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD CHAIR HAS BEEN AUTHORIZED TO REVIEW THE FORM 990 AND PROVIDE A REPORT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REVIEWS THE POLICY AS NEW OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE ADDED (OR CHANGED) AND REVIEWS EXISTING MEMBERS, NOT LESS THAN ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ANNUAL PERFORMANCE REVIEW IS COMPLETED ON THE CEO BY THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WITH ADEQUATE NOTICE, THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, RELATED POLICIES, AND FINANCIAL STATEMENTS AVAILABLE, UPON REQUEST OF THE BOARD CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4RESTRICTED NET ASSETS 63,863.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01931090
IRS990/TotalAssetsEOYAmt02146263
IRS990/TotalAssetsGrp/BOYAmt01931090
IRS990/TotalAssetsGrp/EOYAmt02146263
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0611136
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074684
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0304472
IRS990/TotalFunctionalExpensesGrp/TotalAmt0379156
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0496874
IRS990/TotalLiabilitiesEOYAmt0274433
IRS990/TotalLiabilitiesGrp/BOYAmt0496874
IRS990/TotalLiabilitiesGrp/EOYAmt0274433
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01434216
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01871830
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0304472
IRS990/TotalProgramServiceRevenueAmt09364
IRS990/TotalReportableCompFromOrgAmt09382
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0141771
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0752907
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01931090
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02146263
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02705 ENTERPRISE DRIVE
IRS990/USAddress/CityNm0ANDERSON
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046013
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ADAM HOEKSEMA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07656220400
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-02-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLAGSHIP ENTERPRISE CAPITAL INC
ReturnHeader/Filer/BusinessNameControlTxt0FLAG
ReturnHeader/Filer/EIN0813693405
ReturnHeader/Filer/PhoneNum07656220800
ReturnHeader/Filer/USAddress/AddressLine1Txt02705 ENTERPRISE DRIVE
ReturnHeader/Filer/USAddress/CityNm0ANDERSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046013
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0350905017
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WHITINGER & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010735 SKY PRAIRIE STREET SUITE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FISHERS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046038
ReturnHeader/PreparerPersonGrp/PhoneNum03178416009
ReturnHeader/PreparerPersonGrp/PreparationDt02026-01-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN P KANE CPA
ReturnHeader/ReturnTs02026-02-06T10:48:57-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-06-01

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